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Ta Win looks for boost from purchase of Royce Pharma stake

CURRENTLY in the red, copper wires and rods manufacturer Ta Win Holdings Bhd is counting on its acquisition of a 32.5% associate stake in Royce Pharma Manufacturing Sdn Bhd to give it a shot in the arm. Even so, the pharmaceuticals business is unchartered waters for Ta Win, and Royce Pharma is loss-making. The latest available financials show that Royce Pharma made a net loss of RM682,653 on revenue of RM24.13 million for the financial year ended Dec 31, 2018. Its retained losses stood at RM2.6 million. Ta Win reported a wider net loss of RM2.75 million in the first quarter of its financial year ending June 30, 2021 (1QFY2021), from a net loss of RM2.08 million in 1QFY2020, owing to the impact from the Movement Control Order. However, revenue for the quarter increased 27% year on year to RM85 million.

Ta Win to acquire 30% stake in Royce Pharma — sources

COPPER products maker Ta Win Holdings Bhd plans to acquire about 30% of Royce Pharma Manufacturing Sdn Bhd, according to sources. “The deal could be announced as early as this week. The one-third stake in Royce Pharma is estimated to be worth around RM15 million to RM20 million,” a source familiar with the matter tells The Edge. Incorporated in April 2004, Royce Pharma is a pharmaceutical manufacturing firm based in Nilai, Negeri Sembilan. According to the healthcare company’s website, it is fully equipped with state-of-the-art facilities for formulation in R&D, manufacturing of both pilot and commercial batches, warehousing and distribution as well as sales and marketing of pharmaceutical products.

Ta Win buys 32 5% stake in pharma firm for RM20 85m

KUALA LUMPUR (Dec 14): Ta Win Holdings Bhd will be acquiring a 32.5% stake in pharmaceutical company Royce Pharma Manufacturing Sdn Bhd for RM20.85 million. In a bourse filing, the group said its wholly-owned subsidiary Ta Win Copper Biohealth Sdn Bhd (TWC Biohealth) inked a share sale agreement with Poly Lab Sdn Bhd for the acquisition of a 22.8% or 2.74 million share stake in Royce Pharma for RM14.64 million. At the same time, it signed a subscription agreement with Royce Pharma and the latter’s shareholders Poly Lab and Jelita Serbaneka Sdn Bhd for the subscription of 1.16 million new shares, which represent 9.8% of Royce Pharma’s enlarged share capital, at RM6.21 million.

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